Sartorius Stedim Biotech S.A. | Investor Relations

We focus on the attractive biopharmaceutical market characterized by long‑term and stable growth trends.

Key Growth Drivers

• Growing world population
• Increasing incomes and better access to healthcare services in emerging economies
• Aging population and rise in age-related diseases in industrialized countries

Medical progress is also fueling growth, resulting in the ongoing development and approval of new biopharmaceuticals and in the improvement or expansion of indications for already existing active pharmaceutical ingredients. Therefore, a growing number of biotech medications are being approved for treatment of rare diseases considered incurable until now, and innovative cell and gene therapies are projected to further drive growth in the biopharma sector.

Sartorius Stedim Biotech has leading market positions in core technologies and is continuously expanding its portfolio by new, complementary technologies that help our biopharma customers develop and manufacture medications faster and more easily. Our strength in selecting suitable partners or acquisition candidates is based upon our in-depth understanding of applications. We are thoroughly familiar with our customers’ requirements and their entire value-added chains, and particularly understand the interactivity of the systems they use. Our innovation strategy is based on three pillars:

• Integration of innovations through acquisitions
• Alliances with partners
• Own product development

With sites in more than 30 countries, Sartorius Stedim Biotech is represented in all major biopharma markets. As part of a long-term investment program that is now well advanced, the company has been investing in the expansion of its research and production infrastructure for several years. In addition to expanding capacity, these investments are aimed at further diversifying and increasing the flexibility of the production network, Sartorius is well positioned to capture strong organic growth.

North America and Asia are the key focal areas of the regional growth strategy. The USA is the world’s largest market for bioprocess equipment. Yet because it is home to the company’s main competitors, Sartorius Stedim Biotech formerly had lower market share in this region than in Europe and Asia. By systematically strengthening its sales and service capacities, Sartorius Stedim Biotech has gained market share in North America in recent years and intends to expand this further.

The Asian market also offers significant growth potential for the company. Drivers are demographic change, increasing prosperity, rising government spending on health care and the expansion of the regional biopharmaceutical industry. To benefit from this dynamic development, the company has significantly strengthened its presence in this region. 

Repeat business with sterile single-use products accounts for approx. 80% of the company’s sales revenue. These offer customers cost advantages, flexibility, and less resource usage, and thus a better ecological footprint compared with conventional processes employing reusable stainless-steel components.

The high share of recurring revenues is also bolstered by the strict regulatory requirements on the part of the customers. Because health authorities validate production processes as an integral part of an application for approval of a new medical drug, the components initially validated can be replaced only at considerable expense once they have been approved. Beyond this, the company’s broad and stable customer base that is primarily addressed directly through a specialized sales force also contributes to this favorable risk profile.

The bioprocess technology market is characterized by relatively high entry barriers arising in part from the biopharmaceutical industry’s strong degree of regulation and its technological complexity.

Acquisitions that are complementary to or extend the company’s strengths appropriately have been and will remain part of our portfolio strategy. Due to high innovation dynamics, the company considers further additions to be possible on an ongoing basis across the entire breadth of the product portfolio.

Acquisition Criteria

• Complementarity of technologies to our existing portfolio
• Strong market positioning, for example, through innovative products with unique selling propositions
• Integration capability
• Appropriate valuation
• Growth and profitability profile

For many years, we have firmly embedded sustainability at many levels in our business. To us, it means operating responsibly and nurturing long term relationships – with respect to customers, employees, investors, business partners and society as a whole.

Based on the business performance in the first nine months of 2026 and the continued positive development of the relevant end markets, management confirms its sales and profitability guidance for the full year and refines the expected ratio of capital expenditure to sales revenue. 

Sartorius Stedim Biotech continues to expect sales revenue growth in constant currencies of around 6 to 10 percent. Operational growth excluding tariff-related effects is expected to be around the midpoint of the range, while growth including the intended customer compensation for unlawfully imposed U.S. tariffs is expected to be in the lower half. Customer compensation could reduce sales revenue by up to 35 million euros compared with initial assumptions. 

With regard to profitability, management continues to project the underlying EBITDA margin to increase to slightly above 31 percent. 

The ratio of capital expenditure to sales revenue is now expected to be around 13 percent and thus slightly below the previously expected prior-year level of 13.3 percent. The ratio of net debt to underlying EBITDA should decrease to slightly above 2 (PY: 2.38). 

_{Forecasts have been prepared based on historical information and are consistent with accounting policies. All forecast figures are based on constant currencies, as in past years. Management points out that the dynamics and volatility in the industry have increased significantly in recent years. In addition, uncertainties arising from the changed geopolitical situation, such as emerging decoupling tendencies among various countries as well as changes in trade policy frameworks, are playing a greater role. This results in greater uncertainty when forecasting business figures.}

Based on its assessment of future market development, Sartorius Stedim Biotech expects the bioprocessing market to expand at a rate of approximately 8 to 10 percent per year over the medium term.
Against this backdrop and building on its leading market position as well as its focused strategy, Sartorius Stedim Biotech introduced a new mid term ambition for the period from 2027 onwards. Management expects the company to consistently outgrow its addressable market by around 100 to 200 basis points per year, targeting organic sales revenue growth of 9 to 12 percent per year in constant currencies. At the same time, Sartorius Stedim Biotech is committed to further expanding its profitability: The underlying EBITDA margin is expected to increase by approximately 60 to 85 basis points per year, driven by operating leverage, operational improvements and a growing share of high-margin consumables. 

Forecasts have been prepared based on historical information and are consistent with accounting policies. All forecast figures are based on constant currencies, as in the past years. Management points out that the dynamics and volatilities in the industry have increased significantly in recent years. In addition, uncertainties due to the changed geopolitical situation, such as the emerging decoupling tendencies of various countries, are playing a greater role. This results in higher uncertainty when forecasting business figures

Sartorius Stedim Biotech is a globally operating company with subsidiaries in more than 25 countries and more than 10,600 employees worldwide. The parent company of the Sartorius Stedim Biotech Group is Sartorius Stedim Biotech S.A., headquartered in Aubagne, France.

Sartorius Stedim Biotech S.A. is listed on the Euronext stock exchange in Paris. Approximately 72% of the share capital is held by Sartorius Holding, and around 83% of the voting rights of Sartorius Stedim Biotech S.A. are held by Sartorius AG.

Sartorius AG is an international leading partner for life science research and the biopharmaceutical industry and is headquartered in Göttingen, Germany. It is listed on the German Stock Exchange and operates two divisions: the bioprocess business as a subgroup under its parent corporation Sartorius Stedim Biotech S.A., and the laboratory business as a further subgroup.

Below you will find the legal structure of Sartorius AG, the parent company of Sartorius Stedim Biotech S.A.